Benzinga | Oct 28, 2013 09:54AM ET
With 24 percent of the S&P 500 companies set to report third quarter earnings this week, Apple stands out as one of the most highly anticipated. The technology giant is set to open its books to the public after the bell on Monday.
After the second quarter showed a negative trend in iPad sales, many will be watching for a reversal; though it is possible that the decline will continue as customers wait for November to upgrade to Apple’s latest model.
The technology sector has been on fire for third-quarter results, with 84 percent of companies having beat analyst expectations. Amazon and Microsoft released better than expected figures last week, leading the S&P 500 to finish the week on at all-time high of 1,759.79.
Top News
In other news around the markets:
Asian markets started off the week on a high with the Japanese NIKKEI posting the largest gains, up 2.19 percent. The South Korean KOSPI was up 0.68 percent and Hong Kong’s Hang Seng index gained 0.36 percent. Australia’s ASX 200 was up 1.02 percent and the New Zealand NZ 50 rose 0.59 percent.
European Markets
European markets were mostly higher, the UK’s FTSE was up 0.07 percent and the eurozone’s STOXX 600 was up 0.09 percent. Italy’s MIB was up 0.61 percent but France’s CAC 40 lost 0.21 percent.
Commodities
Energy futures were mixed with Brent futures up 0.09 percent and WTI futures down 0.35 percent. Gold lost 0.27 percent and silver was down 0.44 percent. Industrial metals were mostly higher with tin up 1.42 percent and aluminum up 1.07 percent.
Currencies
The euro remained above $1.38 and the pound to dollar ratio was quiet, up just 0.07 percent. The yen lost 0.17 percent against the dollar and the Australian dollar gained 0.21 percent against the dollar.
Earnings From Last Week
Notable earnings released on Friday included:Procter & Gamble Company (HLF ) is expected to report third quarter EPS of $1.14 on revenue of $1.20 billion, compared to last year’s EPS 0f $1.04 on revenue of $1.02 billion.Economics
Monday’s economic releases will likely be overshadowed by earnings reports. US pending home sales, US industrial production and Italian business confidence will be among the most watched releases.
By Laura Brodbeck
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